;-) And yes, you are indeed right and confirming my statement by providing even more explanation.

I think it was like $65.Take a lot of practice tests which give explanations of the answers.

I agree with most of this and it is a great explanation of the trade offs ... bottom line is there is no free lunch, if you are getting one it is usually in exchange for the others, and that could be ok if it is a conscious decision/strategy from the investor, but can lead to trouble if the investor is making trade offs without being aware.The one point where I would like to sharpen a bit though is on the cash flow.

Thanks for the explanation of the faulty workmanship clause.  

hello bp can anyone give me a detailed  explanation  on how hard money loans work and where I can find a hard money lender that deals in st.louis mo and surrounding areas hoping to get started on my first flip by March 1st thanks everyone  for your support 

Marcello, I'd suggest that you request an explanation be given you in writing.

Secondly even with the shortage at the time the amount of money they take out each month leaves an excess of over $1600 in escrow at years end after my taxes and insurance are paid so there was no reason for doing what they did.When I brought that to their attention they told me "Don't worry you get an overage check back" when I told them I didn't want the check I wanted the months payment the allocated to escrow(putting me two months back" taken out of escrow and put back to my payments they told me it wasn't possible with no explanation.

I'm just trying to figure out an explanation for why the mentoring relationship in REI is a business transaction, whereas everywhere else I've seen it, it is just part of the education cycle (you are mentored, you grow, you gain experience, and then you mentor someone else).Originally posted by "brainfreeze02001":You can go to your local public libraryThis is great advice.

I continue to try to get a sensible explanation from title companies, regarding their reluctance to insure title where real property is owned by a legally formed and operating corporation that is also Trustee for a Land trust.

There are many explanations of the Foreclosure process (including a GREAT one on this site) from the bank/Homeowner's perspective.